Calamos Advisors LLC Sells 205 Shares of PPG Industries, Inc. (NYSE:PPG)

Calamos Advisors LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 209,335 shares of the specialty chemicals company’s stock after selling 205 shares during the period. Calamos Advisors LLC owned about 0.09% of PPG Industries worth $31,306,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PPG. Moneta Group Investment Advisors LLC lifted its stake in PPG Industries by 163,082.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after purchasing an additional 4,155,341 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in PPG Industries by 602,706.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,640,291 shares of the specialty chemicals company’s stock worth $331,994,000 after purchasing an additional 2,639,853 shares during the period. Norges Bank bought a new position in PPG Industries during the fourth quarter worth about $318,155,000. First Trust Advisors LP lifted its stake in PPG Industries by 280.6% during the first quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock worth $227,393,000 after purchasing an additional 1,279,104 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of PPG Industries by 41.1% during the third quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after buying an additional 959,849 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 2.3 %

PPG traded down $3.06 during trading on Friday, hitting $132.05. The company had a trading volume of 756,041 shares, compared to its average volume of 1,717,900. The company has a market capitalization of $31.08 billion, a PE ratio of 25.30, a PEG ratio of 1.61 and a beta of 1.28. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The firm’s 50-day moving average price is $140.53 and its 200 day moving average price is $138.87. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting the consensus estimate of $1.86. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 EPS. As a group, equities analysts expect that PPG Industries, Inc. will post 8.46 earnings per share for the current year.

Insider Activity at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on PPG shares. KeyCorp dropped their price objective on shares of PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Wolfe Research began coverage on shares of PPG Industries in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of PPG Industries in a research note on Friday, January 19th. Finally, Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $163.00 in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.